Replies to post #63271 on Bravada International Ltd (BRAV)

[dmlabuda]

Once again the price is unable to rise above the 84.33 candle EMA on the hourly chart so, for the moment at least, the price appears to be heading lower. BRAV - 60 min Candlesticks

[dmlabuda]

One thing I forgot to mention in the previous post is this. One of the great law of physics also applies to stock charts. A body in motion tends to remain in motion until acted upon by an outside FORCE. When it comes to stock trading, commodity trading, or any other kind of supply and demand trading, that FORCE is volume (supply or demand). So, anytime the chart is providing unclear or mixed signals, the tendency is for the price to continue following the MAJOR trend. The MAJOR trend, the BIG Picture, when it comes to stocks is seen on the weekly chart, which in the case of BRAV is CLEARLY DOWN at the moment. So, the price will continue to drift in the path of least resistance which is down. Hence the saying "the trend is your friend".